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ECE Industries Ltd Management Discussions.

INDUSTRY STRUCTURE AND DEVELOPMENTS

Main segments of companys activities relate to manufacture and sale of Equipments for
Power & Distribution Transformers and Elevators.

OPPORTUNITIES & THREATS

There is strong need to revamp and revitalize the power and distribution system of the
Country. Poor realization from State Electricity Boards and increasing cost of finance and
raw-material resulting in lower income.

SEGMENTWISE PERFORMANCE

The business segments of the company i.e. "Equipment for Power Transmission and
Distribution" & "Elevator" accounted for 76.41% and 23.59% of the gross
turnover respectively in the year 2017-18.

A. Business Segment - Equipment for Power Transmission and Distribution

Particulars

2017-18

2016-17

% Change

(Negative)/Positive

Turnover

20039.06

22732.07

(11.85)

Operating Profit/(Loss)

(after depreciation and before interest & exceptional
items)

1019.34

65.09

1466.05

B. Business Segment - Elevators :Rs :n :a:(h)

Particulars

2017-18

2016-17

% Change

(Negative)/Positive

Turnover

6540.07

6270.37

4.30

Operating Profit/(Loss)

(after depreciation and before interest 8i exceptional
items)

(312.66)

(639.22)

51.09

OUTLOOK

Your company focuses on quality manufacturing of transformers and expects to get more
orders in coming years.

Improve designs and cost reduction techniques will help us to gain more in coming
years. Adoption of global trends

in Elevator business which include energy efficient safe and reliable equipment
manufacturing by your company help

us to gain more market share

RISKS AND CONCERNS

1. Fixed Assets of the Company i.e. Buildings, Plant and Machinery, Office equipments,
Furniture 8i Fixtures and Vehicles are insured with a view to minimize the risk in case of
fire and loss of profit.

2. Current Assets of the company i.e. Raw Materials, Work-in-Progress, Stores 8i Spares
and Finished Goods are insured to minimize the risk.

3. The Company has taken cash/cash in transit insurance cover to safeguard itself from
any theft/ burglary.

4. The Company has also kept its activities reasonably diversified in terms of products
and locations with a view to minimize the risk.

5. The Company is having in-house Research 8i Development abilities to cater the needs
of technological changes in the market and to upgrade its products.

6. To plug the operational hazards, the Company has vast base of suppliers to procure
continuous supplies of raw material from its local and foreign suppliers.

7. The Company hedges its risk of fluctuation in foreign currency while taking loan
from banks.

8. Keeping in view the size and infrastructure of the company, it is felt that the
existing arrangement of Risk Management is reasonably sufficient.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

ECE has an internal control system that is geared towards achieving efficiency in
operations, optimum utilization of resources, effecting monitoring and compliance with all
applicable laws and regulations. A program of internal audit by an Independent firm of
Chartered Accountants is reviewed by Management and documented policies, guidelines and
procedures, supplements the internal control systems that are designed to ensure
reliability of financial and all other records to prepare financial statements and other
data and to maintain accountability of assets.

ECE recognizes the need of training & development on regular basis. Continuous
learning by individuals is necessary for the organization. It provides opportunity,
appropriate working environment and scope to develop the younger

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